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FOREIGN CROPS AND MARKETS 



ISSUED WEEKLY BY 
UNITED STATES DEPARTMENT OF AGRICULTURE 
BUREAU OF AGRICULTURAL ECONOMICS 
WASHINGTON. D. C. 

Vol. 34 February 1, 1937 No. 5 



LATE CABLES ... 

India first estimate of acreage sown to wheat for har- 
vest in 1937 placed at 32,167,000 acres as compared with the 
revised first estimate for 1936 of 32,760,000 acres and the 
final figure of 33,631,000 acres. (Director of Statistics, 
Calcutta, January 29, 1937.) 

Japan final estimate of 1936 rice production placed 
at 21,712,915,000 pounds of cleaned rice from an area of 
7,859,000 acres. This is largest crop on record with ex- 
ception of 1933 and compares with 1935 crop of 18,525,444,000 
pounds from 7,852,000 acres and an average for 1930 to 1934 
of 19,677,460,000 pounds from 7,886,000 acres. (Shanghai 
office, Bureau of Agricultural Economics, January 28, 1937.) 



58 



Foreign Crops and Markets 



Vol. 34, No. 5 



3 EE AD GRAINS 

Estimates of winter s owings for 1937 

First estimates of acreages sown to w inter w heat for the 1937 
harvust indicate increases over comparable figures for 1936 in most 
countries reporting. V/inter sowings in the United States are the largest 
on record, Toeing 15.1 percent above the 1936 winter area. A gain of 20 
percent is reported for Canada, where the fall sowings were estimated 
to be the largest since 1930. Increases in European countries range 
from about 2 percent in France to 11 percent in Lithuania. Czecho-- 
Slovakia is the only country reporting a reduction, governmental measures 
having been in force for several seasons to restrict the wheat acreage. 

The area sown to winter rye in 6 countries reporting totals about 
9 percent above the area sown last season by the sane countries. A gain 
of 17 percent in the United States accounts for most of the increase. 

WINTER T7HSAT AED TOTE! RYE: Area sown for harvest, 1935-1937 



Country : ; : ; Percentage 

and : 1935 j 19 36 ! 1937 | 1937 is 

Coarodity j_ : j of 1936 

: 1,000 acres " j 1,00 0 acres ! 1,000 a cres ; 1,000 acres" 

Win ter TJheat : • i : 

United States j 47,067 i 49,698 j 57,187 i 115.1 

Canada j 685 i 585 j 702 : 120.0 

France a/ i 13,007 • 12,536 : 12,772 • 101.9 

England & Y/ales i 1,772 [ 1,703 : 1,754 j 103.0 

Greece ; 2,092 j 2,011 : 2,076 ; 103.2 

Czechoslovakia ; 2,250 \ 2,217 ; 1,969 ! 88.8 

Lithuania : 414 j 349 ; 388 .; 111.2 

Latvia.... I 210 ! 172 j 182 j 105.8 

Punjab, India b/... : 9,709 : 9,983 [ 10,612 j 106.3 

Total (9) j 77,206 : 79,244 j 87,642 ! 110.6 



V/inter rye ; : ; 

United States \ 6,312 6,547 j 7,673 j 117.2 

Canada. \ 652 • 483 j 464 i 96.1 

France a/ j 1,607 \ 1,611 i 1,620 j 100.6 

G-reece I 182 i 203 j 160 : 78.8 

Czechoslovakia i 2,464 2,483 i 2,447 | 98.6 

Lithuania \ 1.2 5 8 ' 1.2 06 ■ 1.269 j 105 .2 

Total (6) ! 12,475 j 12,533 : 13,633 j 108.8 



a/ Sowings up to January 1. b/ Represents about l/3 of the total whea.t 
acreage of India. 



February 1, 1937 



Foreign Crops and Markets 



59 



Rece n t rev ision s of 1 936 pr oduction 

The third estimate of the 1936 wheat crop of Canada was placed 
at 229,218,000 "bushels, which compares with the revised estimate for 
1935 of 281,292,000 "bushels, and is the smallest crop since 1919, ac- 
cording to the January crop report of the Dominion Bureau of Statistics 
at Ottawa. The reduction of 4,282,000 "bushels from the November esti- 
mate was attributed largely to disappointing returns in Alberta, al- 
though the crop of Manitoba was also about 1,000,000 bushels short of 
earlier expectations. The crop season was characterized by marked 
regional variations in weather and growing conditions. TThile.the 
drought reduced the size of the crop, early maturity and dry harvest- 
ing weather resulted in unusually good quality. The protein content 
of the 1936 crop was the highest so far recorded. The third estimate 
of the 1936 rye crop of Canada was placed at 4,281,000 bushels. This 
compares with 9,605,000 bushels produced in 1935 and is considerably 
under the average for 1930-1954. 

The 1936 wheat cr»p of England and Wales has been increased to 
51,445,000 bushels but remrins considerably under the 1935 outturn of 
60,592,000 bushels. The Algeria!', crop has also been revised upward, 
according to the International Institute of Agriculture at Rome, and is 
estimated at 29,762,000 bushels as against 33,533,000 bushels produced 
in 1935. An increase for Australia was likewise reported, the latest 
estimate being 134,187,000 bushels as against a 1935 crop of 142,598,000 
bushels. The first estimate for Uruguay, placed at 10,501,000 bushels, 
indicates a reduction of about 30 percent from the large crop of 1935. 

The Japanese .w heat market 

As a result of higher prices and difficulty in obtaining delivery, 
no interest was shown in United States wheat on the Japanese market 
early in January, according to information from Consul General Carrels 
at Tokyo, transmitted by the Shanghai Office of the Bureau of Agricultural 
Economics. Quotations on all foreign wheat as of January 4 were materially 
higher than on December 1. Domestic prices did not make a proportionate 
advance, however, and the price spread between the two increased. Do- 
mestic flour prices showed a greater gain than domestic wheat prices, 
since there was a strong local demand for flour during December and a 
fair export demand resulting from substantial purchases by Manchuria. 
Supplies of domestic wheat were about normal for the time of year, and 
mills were active. 

Prices of wheat at the mill on January 4 were quoted as follows; duty 
and landing charges included: Western Unite No. 2, $1.61 per bushel; 
Canadian No. 1, $1.78; No. 3, $1.71; Australian $1.53; Manchurian $1.57 
per bushel. The wholesale price of flour at the mill on January 4 was 
$1.40 per bag of 49 pounds; c.i.f. Dairen, it was $1.31 per bag. Portland 
wheat, c.i.f. Yokohama, was $1.27 per bushel, duty and landing charges 
excluded. Exports of flour during November 1936 totaled 167,371 barrels 
as against 274,493 barrels exported in November 1935. 



60 



Foreign Crops and Markets 



Vol. 34, Ho. 



JAPAN: Imports of wheat, "by countries of origin, November 1935-]. 936, 

July- November 1935-1936 



Country 



United States 
Canada. . . 
Aus tralia 
Argentina 
Manchuria 
China. . . . 
Others. . . 

Total. . 



Ho venter 



1935 



1,000 bushels 



0 

0 

727 
64 
401 

0 

234 



1, 426 



1936 



1.000 "bushels 



39 
95 
0 
0 

216 
128 

0 



478 



July-November 



1935 



1, 000 ■ bushels 



0 

362 
3,482 
575 
592 
7 

234 



5,252 



1936 



1,000 bushels 



129 
1,629 
507 
0 

342 
615 
53 



3,285 



HOPS 



British hop production shows slight incr ease 

A British hop crop of 28,227,000 pounds for 1936 from 18,317 acres 
is officially reported, according to a cable to the Bureau of Agricultural 
Economics from Agricultural Attache C. C Taylor at London. The 1935 out- 
put was 27,776,000 pounds from 18,251 acres. The current acreage and pro- 
duction figures are in line with those of other recent years during which 
the British Hops Marketing Scheme has been in operation. A somewhat un- 
favorable growing season was experienced this year, and hops of outstand- 
ing quality are bringing prices higher than those prevailing in the last 
2 years. 



Most of the 1935 crop in storage has been utilized, and active 
trading in new- crop hops got under way on January 6. It was estimated 
that practically all of the new crop will have passed into brewers' hands 
by February 1. Pacific Coast hops have been firmly held, in view of the 
steady increase in United States beer consumption, and the probability 
of a new English inquiry for hops of high preservative value in the next 
month or two. Continental export supplies of 1936 hops are reported as 
scarce. 



GILS AND OILSEEDS 



Manchurian soybean supply increased 

Total exports of soybeans from Manchuria for the 1936-37 crop year 
(October-September) are forecast at 3,720,000 short tons compared with 
3,096,000 tons for the 1935-36 season, according to a radio received from 
Assistant Agricultural Commissioner J. Barnard Gibbs at Shanghai. The 
1936 Manchurian soybean crop was officially estimated at 4,600,000 tons 
compared with 3,640,000 tons for 1935, an estimate made by the Shanghai 
office . 



February 1, 1937 



Foreign Crops and Markets 



61 



The demand for "beans from Germany and Japan is expected to be 
greater this crop year while China will take a smaller volume than last 
season. . Exports of beans for the 1936-37 crop year are forecast at 
2,590,000 short tons compared with 2,048,000 tons for the past season. 
Bean cake exports, including "bean meal, for the current crop year are 
forecast at 1,047,000 short tons compared with 965,000 tons for the 
1935-36 season. Exports during the present crop year are expected to 
"be somewhat smaller to Japan and China "but larger to the United States. 
The demand for Manchurian "bean oil is not expected to be any larger than 
last season when 83,000 short tons were exported. Some increase in "bean 
oil exports to Europe and the United States is anticipated while Japan 
and China are expected to "buy smaller quantities compared with the pre- 
ceding crop year. 

Bean markets have "been active since the arrival of the new crop 
in October and in spite of the larger crop, prices have been above a 
year .ago. At the end of December Vice Consul Brennan at Dairen reported 
bean quotations c.i.f. Europe per 100 pounds for January shipment at 
$2.08 compared with $1.63 on the same date a year ago. During December 
prices advanced materially along with increases for other oilseeds and 
food crops in general. 

Exports during the first quarter of the crop year (October-December) 
were somewhat below those of the same period last year. The rising 
prices during December retarded export sales. Estimated exports for 
October-December compared with last year were as follows in short tons: 
Beans, 496,000 and 539,000; bean oil 15,900 and 19,300; bean cake 157,000 
and 171,000. 

'The total quantity of beans available for export as beans, bean 
oil, and bean cake on January 1 was estimated at 3,050,000 tons compared 
with 2,370,000 tons a year earlier. Present stocks at market centers have 
accumulated and are nearly double those of a year ago. 

MJBCEURIA: Soybean supply and exports, 1935-36 and 1936-37 



Item 



SUPPLY 

Production 

Carryover (estimated) 

Total 

EXPORTS 

Beans 

Bean cake and meal. . . 
Bean oil. 

Total 

a/ Forecast. 



Crop y e ar 0 c to b e r- September, 



1935-36 



1, 000 short t ens 

3,640 
75 



3,715 



2,048 

965 
83 



3,096 



1936-37 



1 ,000 short tons 

4,600 
55 



a/ 
a/ 



■ 4,655 



2,590 

1,047 
83 



3 , 720 



62 foreign Crops and Markets Vol. 34, Wd. 5 

MANCHURIA: Prices of soybeans at Dairen, January 15, 1936 and 1937 



Beans 
Bean cake 
Bean oil , 



January 15 



1936 



£g.nt s.,..p,er...,,p_QUjad, 

1.39 
.93 

4.22 



1937 



1.63 
1.05 
5.49 



Prepared by Shanghai Office of the Bureau of Agricultural Economics. 

TOBACCO 

Larger imp o rts of f l ue-cured tobacco i nto the Orient 

Imports of American flue-cured tobacco into China during the 
1936-37 marketing year (October-Septemfcer) are estimated at 40,000,000 
pounds, as a.gainst an annual average of 22,000,000 pounds during the 2 
preceding crop years, according to Assistant Agricultural Commissioner 
J. Barnard Gibbs at Shanghai. Manchurian imports of American flue- cured 
are forecast at 5,000,000 pounds in comparison with last year's 4,000,000 
pounds. Imports of American flue-cured during 1936-37 into Japan and 
Korea are expected to equal 7,000,000 and 1,000,000 pounds, respectively, 
or practically the same volume as in 1935-36. 



The important factors in bringing about larger imports of American 
tobacco into China are improved economic conditions resulting in a material 
increase in the manufacture and sale of cigarettes, lower stocks of flue- 
cured tobacco, and a 25-percent increase in exports of Chinese flue-cured 
leaf during October-December 1936 as against a similar period a year 
earlier. 



Total 1936 production of flue-cured tobacco in China, Manchuria, 
Japan, and Korea is estimated at 223,000,000 pounds, or 15,000,000 pounds 
more than in 1935, This increase is largely accounted for in China where 
the 1936 crop was estimated at 170*000,000 pounds as against 155,000,000 
pounds in 1935. The 1936 flue-cured crops of Japan, Manchuria, and 
Korea were the same as in the preceding year, amounting to 51,000,000, 
5,000,000, and 7,000,000 pounds, respectively. The production of native 
types in Japan is substantially below the 91,000,000 pounds produced in 
1935. 

Prices being paid for Chinese flue-cured leaf by Shanghai manu- 
facturers continue at record levels, and it is now estimated that they 
will average 9.7 cents per pound, redried basis, for the year. On the 
other hand, Shanghai prices of American flue-cured leaf have declined 



February 1, 1937 Foreign Crops and Markets 



63 



and it is estimated that they will average about 17.4 cents per pound 
for the season. This would mean an average spread of only 7.7 cents 
per pound "between the price of American and Chinese leaf as compared 
with the spread of 11.7 cents per pound during 1935-36. 

German y l im its imports of America n tob acc o 

Exchange allotments by German authorities limit imports of 
American ' tobacco to quantities smaller than those utilized in the 
period October-September 1935-36, according to the London office of the 
Bureau of Agricultural Economics. During recent years Germany has taken 
from 11,000,000 to 14,000,000 pounds of American tobacco, most of it 
being dark types for use in smoking mixtures. That branch of the German 
tobacco manufacturing industry is more dependent upon Anerican leaf than 
are the cigar and cigarette branches. Effective November 1, 1936, how- 
ever, the German industry was limited in its use of North American tobacco, 
except United States flue-cured, to 90 percent of the quantity used in 
the base period indicated. This order covers American dark types. For 
flue-^cured tobacco the order covers both United States and Japanese leaf 
taken together or separately, and limits total imports of these types 
to 90 percent of the total basic quantity of both types. See "European 
Prospects for American Dark Tobacco," Foreign Crops and Markets, 
December 21, 1936. 

LIVESTOCK, MEATS, AND WOOL 

Rationing of fat supplies in Germany 

A rationing system applicable to the distribution of margarine, 
butter, lard, and other fats was put into operation in Germany on January 1, 
1937, as reported by Consul Henry P. Lever ich in Berlin, The objectives 
are to make available larger amounts of fats to lower-income groups and 
to eliminate advantages in obtaining fat supplies hitherto enjoyed by 
the higher- income groups. 

"Consumption vouchers" are issued by the Government permitting 
persons in the lower-income groups to purchase fixed amounts of fats at 
substantial reductions from the fixed price levels. Practically the 
entire supply of "consumers' marga.rine", manufactured from imported raw 
materials, has been ma.de available to the low- income groups at such re- 
duced rates. It is estimated that at least 22,000,000 people will re- 
ceive "consumption vouchers" carrying this price reduction feature. 
Other persons will be compelled to use the more expensive fats, such 
as lard, butter, etc. 

In order to prevent regional shortages the total ejnount of fats 
released to the reta.il trade is to be reduced and a reserve supply es- 
tablished for distribution in areas threatened with a shorta.ge. The 



64 



Foreign Crops and Markets 



Vol. 34, No. 5 



Government has already ordered all dairies to reduce "butter deliveries 
to their customers "by 20_percent of the amount delivered during the month 
of October 1236. This perce::tag3 must be turned over to the Dairy Products, 
Fats, end Gils Office, of the Government as a reserve supply for dis- 
tribution by. the Government in sections of the country where shortages 
are particularly noticeable. Similar reductions in deliveries for the 
establishment of reserve supplies are to be ordered, for lard, tallow, 
and other edible fats. 

In order to discourage hoarding and to assure an equitable distri- 
bution of all available fats to each individual regardless of social or 
financial standing, retailers of fats have been ordered to register their 
customers. Consumers may purchase fats only in stores in which they are 
registered and each store's quota of fats will be determined on the basis 
of the number of its registered customers. 

Lo ndon w ool s a les have easier tone 

Prices at the London wool sales closed on January 27 at levels, 
for most offerings from 2.5 to 15 percent under closing rates for the 
preceding series, Agricultural Attache C. C. 'Taylor at London reports 
to the Bureau of Agricultural Economics. Greasy medium and low cross- 
breds registered the most extensive declines, with scoured fine and low 
crossbreds down 10 percent. A decline of 10 to 12.5 percent also was 
noted for scoured medium crossbreds. Merinos, both scoured and greasy, 
were relatively firm at par to 2.5 percent lower. Slipes, however, ad- 
vanced in value by 15 to 20 percent. Competition was quiet at the close 
of the current series, but was well distributed as against the close on 
January 22 of the preceding sales when British and continental demand was 
irregular and Great Britain was the chief buyer, but on a limited scale. 

The rapid rise in raw material values in recent weeks checked 
somewhat the Bradford business in semi-manufactures, according to Consul 
E. E. Evans at Bradford. The extent of the price advance exceeded trade 
expectations. Meanwhile most buyers have been awaiting further price 
developments on the London market. Earlier in the month, renewed Japanese 
activity in Australian markets was an important factor in pushing prices 
to the point of slowing down British buying activity. 

The sharp advance of recent weeks in raw wool prices has hindered 
bulk sales of semi-manufactures. Business wa.s curtailed somewhat as all 
sections of the British wool trade were engaged in trying to adjust 
operations to the high level of values. All qualities of crossbred 
tops are in demand, but actual transactions are limited by the inability 
of topmakers to maintain deliveries at prices commensurate with replace- 
ment costs. 



February 1, 193? 



Foreign Crops and Markets 



65 



COTTON: Price per pound of representative raw cotton at Liverpool, 
January 22, 1937, with comparisons 









1936 




; 


1937 


Growth 




. • " . Jleoemoer 






■Ta.n-aa.rv 




•: 4 


. 11 


18 


. 24 








_ r -22_ 






Cents 


Cents 


.'Cents 


Cents 


'Cents 


Cents 


Cents 


American - 






















14.08 

12.60 


£4.35 
•12 . 87 


•14'. 53 
•13.06 


14.55 
i3.07 


14. 73 
13.26 


14.63 
•15.16 




•12 . 48 


;12. 68 


Egyptian (Fully good fair) 


















Sakellaridis . . 


22.05 


b 1 91 




•PO 86 


•21.28 


fe0.97 


PO 9 9 

G « u U 


PI O' 7 . 


Uppers. 


■15.25 


15.44 


15.47 


15 . 70 


j'16.02 


5.6.14 


16.37 


13.43 


Brazilian (Fair) - 




















0.2.99 


13.19 


13.11 


13 . 32 


13 . 51 


13.48 


13.67 


13.67 






13.70 


13. 63 


13.34 


14.02 


14.00 


14.18 


14 . 18 


East Indian - 










Broach (Fully good) 


jll. 19 


11.36 


11. 19 


11.32 


•11.75 


ill. 74 


11.87 


11.77 


C- P- Oornra. No.l, Superfine 


11.58 


ill. 74 , 


11.58 


ill. 71 


•12 . 13 


12 . 13 


12.11 


•19 


Sind (Fully good) 


i 9.74 


; 9.91 _ 


9.94 


1 9.95 


10 . 50 


;10. 50 






Peruvian (Good) 


















Tanguis 


17.17 


•17.38 . 


17.82 


17.89 


18.21 


•18.19 







Converted at current exchange rate. 



BUTTER: Price per pound in Hew York, San Francisco, Copenhagen, and 
London, January 28, 1937, with comparisons 



Market and descriotion 



19 



January 30 



1937 



January 21 



January 28 



New York, 92 score ■ 

San Francisco, 92 score , 

Copenhagen, official quotation; 
London: 

Danish. , 

New Zealand 

Dutch. 

Siberian , 



Cents 

35.2 
33.5 
20.2 

25.9 
21.0 
22.1 



ay 



Cents 

33.5 

'34.0 
19.2 

24.7 
20.4 
21.1 
20.1 



Cents 

33.2 
33.0 
20.6 

26.0 
19.5 
21.0 
19.4 



Foreign prices converted at current rates of exchange 
a/ Quotation not available. 



65 



Foreign Crops and Markets 



Vol. 34, No. 5 



BUTTER: New Zealand grading, 1935-37 season to January 15, 

with comparisons 



Date 


1 Q 'X A 'zp; 


1 O r zc;_ r zfi 

-L JOU ou 






TTeek ended 


1,000 pounds 


1 , 000 pounds 


1, 000 pounds 


August 1 


to October 30 


79, 868 


76 , 412 


79,257 


November 


6 


10,192 


10,248 


10,360 




13 


10,416 


10,136 


. • 11,200 




20 


10,416 


10,472 


10,920 




27 . 


10,808 


10,360 


10,976 


November 


total 


■iJ. , ooc, 


Al Ol F, 


A'X A<=, P, 


December 


4 


10,192 


10,696 


10,696 




11 


9,968 


• 10,696 


11,032 




18 


9,800 • 


■ ■ 10,080 


10,730 




25 


8,904 


10,192 


7, 168 


December 


total 


33,864 


41,654 


39,626 


J anuary 


1 


8,400 


10,416 


12,208 




8 


8,456 


9,688 


11, 592 


15 


8,116 


9,520 


9,184 


Total August 1 to January 15. 


185,536 


183,916 


195,323 



Agricultural Attache C. C Taylor, London. 

BUTTER: Australian grading, 1936-37 season to January 2, 
with compari sons _ • 



Date 


1934-35 


1935-36 


1936-37 


Week ended 


1,000 pounds 


1, 000 pounds 


1, 000 pounds 


July 1 to September 25 


30, 868 


24,179 


20, 067 


October 3 


5,734 


4,771 


3,721 


10 


6,500 


5,383 


4, 059 


17 


6,516 


6,704 


4,731 


24 


7,302 


7,155 


4,525 


31 


8,617 


7,726 


4,988 


October total 


34,719 


31,741 


23,024 


November 7 


8,590 


8,212 


4,997 


14 


8,803 


8,631 


5,096 


21 


7,526 


8,384 


5,696 


28 


10,022 


8,036 


5,042 


November total 


34,941 


33,313 


20,831 


December 5 


8,570 


7,249 


5,233 


12 


9,914 


6,749 


4,944 


19 


9,204 


7,412 


4,384 


26 


8,509 


5, 895 


3,147 


December total 


36,237 


27,306 


17, 708 


J anuary 2 


9,414 


8,575 


4.852 


Total July 1 to January 2.... 


146 , 229 


125,114 


85,482 



Weekly Dairy Produce Notes, Imperial Economic Committee. 



February 1, 1937 



Foreign Crops and Markets 



67 



EXCHANGE RATES: Average weekly and monthly values in Hew York of 
specified currencies, January 23, 1937, with comparisons a/ 



Country 



Argentina 
Canada. . . 
China. . . . 
Denmark. . 
England. . 
France . . . 
Germany . . 
Italy .... 
Japan .... 
Mexico . . . 
Netherlands 
Norway. . . 
Sweden. . . 
Switzerland 



Month 



Monetary 
Unit 



Paper peso 
Dollar .... 
Shang. yuan 

Krone 

Pound 

Franc 

Reichsmark 

Lira 

Yen 

Peso 

Guilder . . . 

Krone 

Krona 

Franc 









~l O 1. P. 





; Dec . 


Dec . 




Oct. 


Nov. 


Dec. 


! Cents 


Cents 


Cents 


Cents 


Cents 


; 32.95 


32. 85 


32. 67 


32.58 


32. 72 


; 101 . 31 


99 .05 


100 .02 


100.12 


100 .06 . 


! 34.22 


29.45 


29.33 


29.47 


29.53 


; 22.08 


22.00 


21.87 


21.82 


21.91 


■494. 58 


492.88 


489.34 


488.80 


490.78 


j 6.60 


6. 60 


4.67 


4.65 


4.67, 


: 40.19 


40.22 


40.20 


4-0.22 


40.23" 


: 8 . 54 


8.08 


5.53 


5.26 


5.26' 


1 23.82 


28.74 


28.61 


28.56 


28.51 1 


; 27.76 


27.77 


27.75 


27.75 


27.75- 


; 67.64 


67.77 


53.63 


53.99 


54.57J 


: 24.85 


24.76 


24.61 


24.56 


24.66: 


! 25.50 


25.41 


25.52 


25.20 


25.30; 


i 32.41 


32.43 


22.99 


22.98 


22.98 



Week ended 


1937 


Jan . 


J an . 


J an . 


9 


16 


23 


Cents 


Cents 


Cents 


32.74 


32.74 


32 . 71 


100.01 


99.97 


99.91 


29.62 


29.62 


29 . 69 


21.93 


21.92 


21.90 


'491.15 


491.08 


490.64 


4.67 


4.67 


4.67 


40.23 


40.23 


40.22 


5.26 


5.26 


5.26 


28.45 


28.62 


28.59 


27.75 


27.75 


27.75 


54.75 


54.75 


54.74 


24.68 


24.67 


24.65 


25.32 


25.32 


25.30 


22.98 


22.96 


22.93 



Federal Reserve Board, a/ Noon "buying rates for cable transfers. 



LIVESTOCK AND MEAT: Price per 100 pounds in specified European market 
J anuary 20, 1937, with comparisons a/ 



Week ended 



Market and item 



Germany : 

Price of hogs, Berlin 

Price of lard, tcs., Hamburg 

United Kingdom: b/ 

Prices at Liverpool first quality- 
American green "bellies 

Danish Wiltshire sides 

Canadian green sides 

American short cut green hams 
American refined lard 



January 22, 
1935 



Dollars 

17.70 
12.76 



15.17 
19.93 
15.72 
18.82 
13.14 



January 13, 
1937 



Dollars 

16.79 
15.61 



18.20 
19.95 
17.50 
20.50 
15.91 



January 20, 
1937 



Dollars 

16.79 
15.16 



18.09 
18.99 
16.85 
20.49 
15.45 



Liverpool quotations are on the basis of sale from importer to wholesaler. 
&/ Converted at current rate of exchange, hj Week ended Friday. 



68 



Foreign Crops arid Markets 



Vol. 34, No. 5 



INDEX 



Page 



Late cables 57 



Butter : 

G-radings: 

Australia, Jan. 2, 1937 66 

New Zealand, Jan. 15, 1937 66 

Prices, U. K. , Jan. 28, 1937 65 

Cotton, prices, U. K., 

Jan. 22, 1937 65 

Excnange rates, foreign, 

Jan. 23, 1937. ■ 65! 

Pats, rationing, Germany, 

Jan. 1, 1937 63 

HOps, production, England, 

1935,1936 60 

Pork, prices, foreign markets, 

Jan. 20, 1937 67 

Rice: 

Area, Japan, 1935,1936 57 

Production, Japan, 1935,1936 57 

Pye, production, Canada, 1935,1936. 59 

Soybeans: 

Exports, Mancnuria, 1935,1936.... 6u 
Prices, Dairen, Dec. 31, 1936. ... 61 
Stocks, Manchuria, Jan. 15, 1937. 62 



Page 



: fobacco: 

: Imports of American, 

: . • China, 1935, 1936 62 

: . Import restrictions, Germany, 

: Nov. 1, 1936 63 

: Prices, China, 1935,1936 63 

: Production, specified Oriental 

: countries, 1935,1936 62 

: Wheat : 

i Area: 

: India, 1936,193? 57 



Specified countries, 1935-1937 58 
Imports, Japan, July-November, 

1935,1936". 60 

Market conditions, Japan, 



Jan. 4, 1937 59 

Prices, Tokyo, Jan. 4, 1937 59 

Production: 

Algeria, 1935,1936 59 

Australia, 1935,1936 59 

Canada, 1935,1936 59 

England and Wales, 1935,1936.. 59 

Uruguay, 1936 59 

Wool, sales, London, 

Jan. 27, 1937 64